Which Month Would I Choose To Start My Benefits If I Want To Start Drawing At Age 69?
I will turn 69 on June 28 and I am planning on filing for my social security retirement benefit at that time. What month should I request my benefit to start in so that I will be sure to get the higher "Age 69" benefit and not the lower Age 68" benefit? Would that be in June or July? When I spoke to Social Security today, they said that it did not matter that my birthday was at the end of the month; my benefit would start in June and my first check would be sent in July. Please clarify this issue.
Thanks
Hi,
In your case you would choose June, . . . Read More
Category: Filing Options
Posted: Mar 25 2019 - 7:10pm
Am I Required To File For Child In Care Spousal Benefits?
Hi Larry,
Thank you for your response. I purchased your software and have worked out multiple scenarios. A couple of points I need to clarify. I understand that if my husband files for early retirement, my disabled son (receiving SSI) is actually required to file for DAC benefits. I was unaware of this. Am I also required to file for Child in Care Benefits once my husband files? Or do I have a choice? If not, then my son would be eligible to receive his full DAC benefit rather than having it reduced by MFB if I, too, were collecting. Is that correct? Can I, at any time . . . Read More
Category: Spousal Benefits
Posted: Mar 25 2019 - 11:36am
Is Social Security Correct About My Case?
Hi Larry —
I became eligible for SSDI in 2014 when I was 62. My wife began collecting her full benefit when she turned 66 in February of 2018 (both she and I were born in 1952). I turned 66 in May of 2018. I told Social Security that I wanted to delay my benefit until 70 and collect a spousal benefit of 1/2 of my wife’s benefit (as she was already receiving her benefit). SS denied my claim saying that I would have to pay back the 4 years of SSDI or $120,000 in order to receive a spousal benefit of $875/mo. Obviously that makes no economic sense. Are they correct??
. . . Read More
Category: Disability Benefits
Posted: Mar 25 2019 - 9:25am
Can My Wife Claim Her Benefits At 62 And Then Claim Half Of My Benefit When She Reaches FRA?
My wife and I are 60 years old (just turned in March and February respectively in 2019). our SSC benefits at 62, and FRA are as follows: 62: wife = $1,069; myself = $2,137; FRA: wife = $1,520; myself = $3,040. Can my wife claim her benefit at 62 of $1,069 and when I retire at FRA claim half my benefit ($1,520) as a spousal benefit at 66 years and 10 months. In other words her SSC benefit will increase from her workers benefit to a spousal benefit? She is working part time now and earns about $15,000 as a RN working a few hours a week. Is there anything wrong with this approach . . . Read More
Category: Filing Strategies
Posted: Mar 25 2019 - 8:21am
Can My Husband Collect My Social Security?
Hello. My husband is 70 yrs old and I’m 40. We’re married for 12 yrs now. He only get $145 from his social security a month. I work full time for over 11 years and I think I put 40 credits to my social security. Can my husband collects my social security since he’s 70 yrs old. I know he will get more if he can get my social security, I want him to collect my social security. Is this possible, if so what do we need to do? I hope you can answer my question. Thank you so much.
Hi,
No. Your husband couldn't qualify for any benefits from your Social . . . Read More
Category: Miscellaneous
Posted: Mar 25 2019 - 8:12am
If I Switch To My Own Social Security Would I Be Allowed To Repay What I Collected Without Any Penalty?
I started receiving $433.00 on my ex husband's account when I turned 66. I turned 67 this month. Unfortunately, due to a very unexpected development, I am in need of a larger amount than I am getting for monthly expenses. I will be receiving a disbursement from an estate but that can take from 9 to 12 months to receive.
Question: If I switch over to collecting on my own Social Security now would I be allowed to repay what I collected o
my own SS as if I hadn't touched it? I really wanted it to earn the 8% per year until I reach 70. Would I forfeit my ex husband's . . . Read More
Category: Withdrawing Retirement Benefits
Posted: Mar 24 2019 - 10:17am
Is It True That I Can't Claim Widow's Benefits If I'm Now Married?
I am a widow and remarried at age 60. I am now being told I cannot claim survivors benefits cause I am now married. Is this true?
Hi,
Not if you remarried on or after your 60th birthday. A marriage that occurs at or after age 60 does not bar eligibility for widow's benefits. However, if you're remarried and your current marriage took place before you reached age 60 then you couldn't qualify for widow's benefits on a former spouse's record as long as your current marriage continues.
Best, Jerry
Category: Widow's Benefits
Posted: Mar 24 2019 - 10:09am
Will It Affect My Social Security If I Co-Sign An Equity Loan?
I recently starting getting benefits after my husband passed away. I own a home with no mortgage. My son is trying to buy a home but unable to qualify. He is a veteran suffering from PTSD. Our accountant suggested I co-sign with my son and apply for an equity loan on the house I own. ( worth approximately $800,000. If I do this will it affect my Social Security Benefits as that is my only form of income now.
Hi,
No. Your Social Security benefits can be paid regardless of your net worth or the type of assets you own.
Best, Jerry
Category: Miscellaneous
Posted: Mar 24 2019 - 10:01am
Isn't The Spousal Benefit Always Half?
Hi, I joined and ran your software and have a question about the results. It recommended that I take spousal benefits when my wide turns 66 this November. And she takes her full benefits. Then when I turn 70 in 2023, I take my full benefits and she takes her spousal benefits. My spousal benefit comes to half her benefit. From the report at age 71 in 2024, my benefit = $44,917. My wife's benefit = $9786 and her spousal benefit = $7228. Added together this is $17014. This is not half of my benefit. What am I missing here. We thought that spousal benefit is always half? Thank you . . . Read More
Category: Spousal Benefits
Posted: Mar 22 2019 - 8:17am
What Should I Do If Social Security Won't Give Me A Date Stamped Copy?
From the article on this website
"Can I Suspend My Benefits At Age 66 If I Started Drawing At Age 62?" it states:
"You may also want to submit your request in writing and ask them for a date stamped copy so that you will have proof of your request."
QUESTION: What if the SSA refuses (even a supervisor) to provide a date stamped copy?
Do you know which section of the SSA POMS requires them to provide a date stamped copy
of documents submitted?
Thank You,
Stephen
Hi Stephen,
Social Security offices aren't . . . Read More
Category: Miscellaneous
Posted: Mar 22 2019 - 7:57am
